grid110

From her home office in downtown, Miki Reynolds is trying to build an accelerator that looks like Los Angeles.

Reynolds, a tech and digital marketing veteran, founded the nonprofit Grid110 six years ago as an incubator for fashion tech brands. But she soon expanded to help a range of founders find their footing in L.A.'s tech and startup scene. Unlike most accelerators, it doesn't take equity in each company.

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On this week's episode of the L.A. Venture podcast meet Austin Clements, co-founder of Slauson & Co, a L.A.-based pre-seed and seed-stage venture firm focused on sustainable economic inclusion. The firm is backed by PayPal, Ashton Kutcher, will.i.am, True Capital Management and Alpaca VC. Previously, Clements was at TenOneTen Ventures. He was also the founding chair of Pledge L.A. and the managing director of Grid110 South L.A.

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A new Fund for South L.A. Founders announced their first class of 20 Black and Latino entrepreneurs this week. The class represents a cross-section of tech-inspired entrepreneurs from bakers to social media purveyors. The cohort was selected from a pool of about 200 applicants, many of whom struggled during the pandemic era downturn.

The fund was created by PledgeLA to address racial inequity and the economic decimation among communities of color. The monies were awarded to rising, innovative entrepreneurs of color. Also, unlike some accelerators, the fund does not take equity in exchange.

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